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Alexander Hall Mortgages Types of mortgage Lowest Base Rate Tracker mortgage deals and rates
With a base rate tracker mortgage the rate of interest you pay is tied to the base rate set by the Bank of England.
Typically the tracker mortgage rate will be set as a percentage above the base rate and although the resulting interest rate is usually lower than a mortgage lender's standard variable rate, this will vary from lender to lender.
| Lender | Initial rate | Type & period | Reverting to | APR | Monthly payment | More details or apply |
|---|---|---|---|---|---|---|
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2.49% | Tracker until 28/02/2012 | 5.99% | 6.10% | ||
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"Bank Base Rate + 1.99% until 28/02/2012.
Maximum Loan size £750,000" Call 08000 38 37 36 for more details or to apply. |
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2.85% | Tracker for 24 months | 4.99% | 5.20% | ||
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"Bank Base Rate + 2.35% for 24 months.
Free basic survey for properties valued up to £1,000,000
For re-mortgages the lender will provide free legal." Call 08000 38 37 36 for more details or to apply. |
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2.99% | Tracker Term | 2.99% | 3.40% | ||
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"For re-mortgages the lender will pay for the valuation, basic legal work or give you a £200 cash back.
Bank Base Rate + 2.49% for the life of the mortgage" Call 08000 38 37 36 for more details or to apply. |
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2.99% | Tracker until 31/03/2011 | 4.99% | 5.20% | ||
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"Only available via intermediaries.
the lender requires that the rent exceed the mortgage by 125% each month.
Bank Base Rate + 2.49% until 31/03/2011" Call 08000 38 37 36 for more details or to apply. |
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4.70% | Tracker for 24 months | 4.84% | 5.30% | ||
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"Bank Base Rate + 4.34% for 24 months
The lender requires the rent to be 125% higher than the monthly mortgage payment.
Exclusive to intermediaries" Call 08000 38 37 36 for more details or to apply. |
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5.50% | Tracker until 10/08/2011 | 3.30% | 5.50% | ||
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"Available for house purchases or re-mortgages.
" Call 08000 38 37 36 for more details or to apply. |
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A main advantage of a tracker mortgage is that the difference between the variable rate and the base rate is usually a lot smaller than the margin between a standard variable rate mortgage and the bank base rate so you will end up paying less overall.
In addition, if the base rate falls, the interest payments on your mortgage loan will fall accordingly, no matter how low the base rate goes.
However, remember that the bank base rate can rise as well as fall which can make budget planning difficult.